I am facing the same problem of credit card and Motor Vehicle Hire Purchase debt repayment like others for few years. The banks even called my office and harassed me about speaking to my boss of my case. I need to know the proper way to apply for AKPK's Debt Management Programme (DMP).

One thing that confuses me, once declared a bankrupt, we can't hold any assets or properties under our name, but can we earn any salary based income? Or any other rules and regulation on this? What will happen to the company who employed us?

I faced the same problem as yours and I went to AKPK for advice. You call AKPK infoline phone number 03-2616 7766 and check when is the briefing. Because different states different dates. Bring all documents related to your credit cards and Hire purchase agreement. You have to bring together photocopy of your IC, CCRIS report print out and 3 months salary slip. You can print your Central Credit Reference Information System (CCRIS) at Bank Negara Malaysia (BNM). Furthermore you will be attending AKPK briefing also at Bank Negara.

For all the questions that you asked can be answered at AKPK website (https://www.akpk.org.my). Read the Stories column. Don't worry too much. Jabatan Insolvensi Malaysia (Malaysia Department of Insolvency) and AKPK will help you to solve your problem at minimum payment. There is a solution.

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answered on Jul 24, 2009 at 18:55by princess_leia

edited Feb 20, 2018 at 02:04

I applied AKPK DMP via their website. I did not go to their office and did not attend their briefing session as I lived in Negeri Sembilan. I have to apply leave in order to do a trip there. In their website, they have this "Self Test" section in the 1st page and click the "DMP Eligibility" tab. You have to answer the questions and your answers will determine whether you are eligibile to apply for the DMP. If yes, they have a link for you to click and apply online. Then you have to fill up the form, print it out and send together with the documents they required.

I did exactly that and 2 weeks later, AKPK officer called me to check on some things then let me know the proposed monthly repayment which I need to conform to. Next, I made the 1st payment before they proceed negotiating with the banks. Once I made the payment, few days letter I received their letter stating that I have successfully enrolled in the DMP. But you have to ensure that the banks you are owing are aware of this because if not, they will keep on chasing for payments. Although the acceptance letter is copied to the banks, but most of them did not receive it. And once you are enrolled, you have to pay the monthly payment without fail.

Hire purchase and housing loans with other banks will be considered on case to case basis.

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answered on Jan 30, 2018 at 17:04by Eddie519

edited Feb 20, 2018 at 02:07

May I know how to check what is the requirement for applying AKPK?

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answered on Feb 22, 2018 at 17:50by Jimmy

It's posted on the AKPK website.

Basic requirements:
- You are not a bankrupt
- Unable to manage your debts
- You must have a positive net income
- You are not under any advance legal action
- Only loans from the participating financial service provider
- Your loan amount does not exceed RM5 million

Other requirements will be based on each individual's current financial situation. Get a free counselling session with AKPK's counsellor.